The IPO of state energy firm Enppi will most likely follow the Eastern sale, possibly as early as September or October, the source added. Planning Minister Hala El Saeed is sending the same message, saying at a press conference yesterday that “The government will launch the ‘state IPO program’ in 4Q2018,” according to Youm7. El Saeed’s remarks also suggest the government is acknowledging we’re in the summer slow season during which no ECM transactions will go to market.